Epic Records CEO LA Reid speaks out on not bailing out Bobby Shmurda

“People don’t know anything about my business, right? It’s really not their business,” Reid said. “That’s the truth about it, right? We’re not elected officials here. And we’re not at liberty to disclose how we do business. It’s fair practice, I can tell you that. But, it’s not the industry that it once was. We seriously don’t make the money we used to make. That’s a fact of life, right?

“Bobby Shmurda is not the same as Snoop Dogg andMurder Was The Case, who’s coming off The Chronic and his first album,” he continued. “It’s a different era, ya know? And, we’re a publicly held corporation. We just aren’t in the same position we were in back in those days. So, it’s a different day.”

Later, Reid reflects on signing Shmurda, and despite his current predicament, is hopeful for the rapper’s future.

“I’m crazy about that kid and I think about him often,” Reid said. “And I feel like, ya know, his better days are ahead of him. I do believe that. And I think it’s unfortunate what has taken place.